Vertical Analysis of Income Statement Revenue and expense data for Innovation Quarter Inc. for two recent years are as follows: Current Year Previous Year Sales Cost of goods sold $540,000 $475,000 351,000 285,000 Selling expenses 75,600 76,000 Administrative expenses Income tax expense 81,000 10,800 66,500 19,000 a. Prepare an income statement in comparative form, stating each item for both years as a percent of sales. If required, round percentages to one decimal place. Enter all amounts as positive numbers.